CXL Ophthalmics Raises $32M in Series A Funding

CXL Ophthalmics, a Sherborn, MA-based clinical-stage company developing a minimally-invasive treatment for keratoconus, raised $32M in Series A funding.

The round was led by AXA IM Alts.

The company intends to use the funds to support the advancement of its cross-linking system, EpiSmart, through Phase 3 trials on the way to a New Drug Application with FDA.

Led by CEO Michael D. Webb and Michael W. Belin, Chief Medical Officer, CXLO is developing a minimally-invasive treatment for ectatic corneal disease that can bring early intervention to millions of patients globally. The patented EpiSmart system, including Ribostat, is designed to optimize cross-linking therapy for keratoconus, allowing minimally-invasive treatment via simultaneous bilateral application of UV light without the need for surgical disruption of the corneal epithelium. The safety and efficacy of EpiSmart was investigated in a recently concluded 2,258-subject Phase 2 trial, and CXL Ophthalmics is preparing to initiate Phase 3 clinical trials for the treatment of keratoconus with EpiSmart.